QNDX vs. XLE

Last updated Jul 15, 2026

QNDX (SPDR Portfolio Nasdaq 100 ETF) and XLE (State Street Energy Select Sector SPDR ETF) are both exchange-traded funds - QNDX is a Nasdaq-100 fund tracking the Nasdaq-100 Index, while XLE is a Energy Equities fund tracking the Energy Select Sector Index. Both are passively managed. At a correlation of -0.53, they often move in opposite directions. QNDX charges 0.10%/yr vs 0.08%/yr for XLE.

Performance

QNDX vs. XLE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Portfolio Nasdaq 100 ETF (QNDX) and State Street Energy Select Sector SPDR ETF (XLE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

QNDX

• 1D: 1.12%
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

XLE

• 1D: 0.37%
• 1M: -0.33%
• 6M: 22.84%
• YTD: 29.13%
• 1Y: 33.24%
• 3Y*: 15.47%
• 5Y*: 22.22%
• 10Y*: 9.46%

*Multi-year figures are annualized to reflect compound growth (CAGR)

QNDX vs. XLE - Yearly Performance Comparison

	2026 (YTD)
QNDX SPDR Portfolio Nasdaq 100 ETF	0.74%
XLE State Street Energy Select Sector SPDR ETF	4.57%

Correlation

The correlation between QNDX and XLE is -0.53, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 24, 2026	-0.53

Return for Risk

QNDX vs. XLE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

QNDX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

XLE

XLE Risk / Return Rank: 54
XLE Sharpe Ratio Rank: 60
XLE Sortino Ratio Rank: 56
XLE Omega Ratio Rank: 52
XLE Calmar Ratio Rank: 56
XLE Martin Ratio Rank: 46

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

QNDX vs. XLE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Nasdaq 100 ETF (QNDX) and State Street Energy Select Sector SPDR ETF (XLE). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	QNDX	XLE	Difference
Sharpe ratio: Return per unit of total volatility	—	1.59	—
Sortino ratio: Return per unit of downside risk	—	2.14	—
Omega ratio: Gain probability vs. loss probability	—	1.26	—
Calmar ratio: Return relative to maximum drawdown	—	2.23	—
Martin ratio: Return relative to average drawdown	—	6.04	—

Drawdowns

QNDX vs. XLE - Drawdown Comparison

The maximum QNDX drawdown since its inception was -3.65%, smaller than the maximum XLE drawdown of -71.26%. Use the drawdown chart below to compare losses from any high point for QNDX and XLE.

Drawdown Indicators

	QNDX	XLE	Difference
Max Drawdown Largest peak-to-trough decline	-3.65%	-71.26%	+67.61%
Max Drawdown (1Y) Largest decline over 1 year	—	-14.98%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-20.14%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-26.04%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-66.81%	—
Current Drawdown Current decline from peak	-2.25%	-8.31%	+6.06%
Average Drawdown Average peak-to-trough decline	-1.71%	-17.95%	+16.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	5.53%	—

Volatility

Volatility by Period

	QNDX	XLE	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	7.06%	—
Volatility (6M) Calculated over the trailing 6-month period	—	16.68%	—
Volatility (1Y) Calculated over the trailing 1-year period	22.98%	21.02%	+1.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.98%	25.91%	-2.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.98%	29.58%	-6.60%

QNDX vs. XLE - Expense Ratio Comparison

QNDX has a 0.10% expense ratio, which is higher than XLE's 0.08% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

QNDX vs. XLE - Dividend Comparison

QNDX has not paid dividends to shareholders, while XLE's dividend yield for the trailing twelve months is around 2.66%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QNDX SPDR Portfolio Nasdaq 100 ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XLE State Street Energy Select Sector SPDR ETF	2.66%	3.28%	3.36%	3.55%	3.68%	4.21%	5.62%	6.72%	3.54%	3.03%	2.26%	3.39%

Frequently Asked Questions

Can I hold both QNDX and XLE in my portfolio?

QNDX and XLE have a correlation of -0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, QNDX or XLE?

On fees, XLE is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QNDX or XLE?

XLE is cheaper with a 0.08% expense ratio, compared with 0.10% for QNDX.

Which ETF pays a higher dividend yield, QNDX or XLE?

XLE has the higher dividend yield at 2.66%, compared with 0.00% for QNDX.

What is the main difference between QNDX and XLE?

QNDX is categorized as Nasdaq-100, while XLE is Energy Equities. QNDX tracks Nasdaq-100 Index, while XLE tracks Energy Select Sector Index. Their fees differ too: 0.10% for QNDX and 0.08% for XLE.